The Truth About Admin Fees
November 06, 2020
At Edward William S.L. we pride ourselves on offering great customer service and value; to the point where we display “Edward William, the stress-free way to insurance.” in big letters on our website homepage. Instead of providing a one-policy-suits-all which might include cover you do not need we tailor-make your policy coverage to your specific individual requirements saving you unnecessary expense on cover you do not need.
“That sounds good but what if I want to change my insurance coverage down the line?”
No problem! Just give us a call or send us an email detailing what needs changing and one of our experienced staff members will process your request and provide updated policy documents by return. You can also submit changes to your contact details via the online Client Area (and view and download your policy documents).
“But won’t I get charged a fee when I request changes to my policy?”
Unlike other Insurers, we do not charge an admin fee for minor amendments to your policy; in fact, we encourage clients to keep their coverage up-to-date to prevent any complications should a claim need to be submitted to Insurers. Policy information, such as the name of your vessel, minor changes to your cruising range or new part-owners (should your boat become co-owned) can be changed, added or adjusted and newly updated policy documents issued at any time with no extra cost to yourself. We will even change the vessel covered under your policy for free as long as the vessels are similar and the policy coverage remains the same.
A perfect example is your mooring location. Boat owners often move to a new homeport, either due to cheaper mooring rates or because it’s safer. This would not incur a fee to update on your policy. The only exception to this would be if you were switching from a pontoon mooring to a swing mooring, as the Insurers that we work with charge a premium for swing type moorings.
To clarify, this does not mean you can just increase your cover free of charge. Changing your cruising range from local waters to covering a transpacific voyage will obviously incur an additional cost. You can always contact us beforehand regarding any changes to your policy and we will let you know if there is an additional premium. We are always here to help.
As a reminder, you can also earn 15% cashback on your premium by referring a friend who takes out a policy through us. You can use the form below to submit your referral request:
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